MB0040 – Statistics for Management

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Master of Business Administration- MBA Semester 1

MB0040 – Statistics for Management - 4 Credits

(Book ID: B1623)

Assignment Set - 1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q1. Mention the characteristics of Statistics. Explain any two applications of Statistics.

Answer: -

Statistics is the study of the collection, organization, analysis, interpretation and presentation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments.

Ø  Characteristics of Statistics

·         Aggregate of Facts

Q2. Distinguish between primary and secondary data. What are the methods of collecting primary data?

Answer: -

 The Difference between Primary and Secondary Sources of Data Primary data is data, which is collected by the researcher themselves. This kind of data is new, original research information. Primary sources enable the researcher to get as close as possible to what actually happened and is hands on. A primary source reflects the individual viewpoint of a participant or observer. Primary sources are first-hand information from a person who witnessed or participated in an event.

Examples of

Q3. Find Karl Pearson’s correlation coefficient between the sales and expenses from the data given below:

Sales (Rs. Lakhs)	50	50	55	60	65	65	65	60	60	50
Expenses (Rs. Lakhs)	11	13	14	16	16	15	15	14	13	13

Pearson’s Coefficient computational formula :

 

Answer :

Q4. The incidence of occupational disease in an industry is such that the workers have a 20% chance of suffering from it. What is the probability that out of six workers 4 or more will contract the disease?

Answer :

Q5. Use chi-square test to test if the two attributes (Performance and Training) in the following table are independent. Test at 5% level of significance.

Performance	Training
	Intensive	Good	Average	Total
Above Average	100	150	40	290
Average	100	100	100	300
Poor	50	80	150	280
Total	250	330	290	870

Answer :  The Chi-Square Distribution

Q6. Construct index numbers of price for the following data by applying:

i) Laspeyre’s method

ii) Paasche’s method

iii) Fisher’s Ideal Index number

Commodity			Base year				Current year
Price		Quantity			Price			Price
A	2			8		A			2
B	5			10		B			5
C	4			14		C			4
D	2			19		D			2

Answer :

Solution:

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Master of Business Administration- MBA Semester 1

MB0040 – Statistics for Management - 4 Credits

(Book ID: B1623)

Assignment Set - 2 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q1. Distinguish between Classification and Tabulation of data. What are the types of Classification of data?

Answer :  Introduction

In any statistical investigation, the collection of the numerical data is the first and the most important matter to be attended. Often a person investigating, will have to collect the data from the actual field of inquiry. For this he may issue suitable questionnaires to get necessary information or he may take actual interviews; personal interviews are more effective than questionnaires, which may not evoke an adequate response. Another method of collecting data may be available in publications of Governmen

Q2. Calculate mean and median for the following data

Marks	0-20	20-40	40-60	60-80	80-100	100-120	120-140
No of Students	4	26	22	10	9	6	3

Answer :

Q3. Calculate the regression equations of X on Y and Y on X from the following data:

X	1	2	3	4	5
Y	2	5	3	8	7

Answer : If the plot

Q4. What is sampling? Briefly explain the various methods of sampling.

Answer : Sampling is a tool which enables us to draw conclusions about thecharacteristics of population.

By choosing a sample technique carefully, errors can be minimised. Let ustake a look at the different techniques available. The sampling techniquesmay be broadly classified into.

i) Probability Sampling

ii) Non-Probability Sampling

Q5. A company appoints four salesmen, A, B, C and D, and observes their sales in three seasons- summer, winter and monsoon. The figures ( in lakhs) are given in the following table:

Season	Salesman
	A	B	C	D	Total
Summer	36	36	21	35	128
Winter	28	29	31	32	120
Monsoon	26	28	29	29	112
Total	90	93	81	96	360

Carry out an analysis of variance at 5% level of significance.

Answer :  Let Ho : No significant difference between

Q6. The mean wage is Rs. 75 per day, SD wage is Rs 5 per day for a group of 1000 workers and the same is Rs 60 and Rs 4.5 for the other group of 1500 workers. Find mean and standard deviation for the entire group.

 Answer :

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